Political Quotes

“I know that he shares my concern with respect to the current state of the municipal bond market in the United States. Following the meltdown of last fall, investors fled from bond markets to U.S. Treasury notes. As a result, our State and local governments are experiencing limited access to the capital markets due to the liquidity crisis. The double-whammy has effectively denied many of the municipal taxes and bond issuers across the country any ability with which to finance capital projects. As we already know, our partners in State and local governments are already facing tough financial choices, but if this particular issue is not addressed, it could lead to a contraction of the national economy to the tune of hundreds of billions of dollars at precisely the time we are trying to stimulate it.”